document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=439245>Question 439245</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much money  must you invest today to have $100,000.00 for your chil'd education in 18 years, provided you can invest the money in a long-term (18 yr) account at 3.5% interest compounded monthly?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #303530 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=303530\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How much money  must you invest today to have $100,000.00 for your chil'd education in 18 years, provided you can invest the money in a long-term (18 yr) account at 3.5% interest compounded monthly?<BR>\n" );
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document.write( "Your equation:<BR>\n" );
document.write( "A = P(1 + r/n)^(nt)<BR>\n" );
document.write( "where<BR>\n" );
document.write( "A = 100000<BR>\n" );
document.write( "P is what you're looking for<BR>\n" );
document.write( "r is .035<BR>\n" );
document.write( "n is 12<BR>\n" );
document.write( "t is 18<BR>\n" );
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document.write( "100000 = P(1 + .035/12)^(12*18)<BR>\n" );
document.write( "100000/(1 + .035/12)^(12*18) = P<BR>\n" );
document.write( "100000/(1.00292)^216 = P<BR>\n" );
document.write( "100000/1.8759 = P<BR>\n" );
document.write( "$53,308.04 = P<BR>\n" );
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